On Tuesday, Union Finance Minister Nirmala Sitharaman said mindset of the millennials is one of the reasons for the current slump in automobile industry in India. "Millennials prefer to use Ola or Uber or take the metro to buying automobiles," she said in Chennai. "Transition to Bharat Stage VI emission norms and higher registration fee have also affected the sales," she added.
Automobile industry in India has been reeling under crisis due to dip in sales in recent months.
Ashok Leyland has announced 59 non-working days in five plants in September after the company reported 28 per cent decline in sales in July.
HeroMotoCorp reported 20 per cent drop, while Maruti Suzuki suffered 34% reduction in sales.
Sitharaman surprised many by blaming the millennials for the slowdown. Little wonder, then, that her statement was greeted with many funny tweets.